Follow Through Thrusday? -- I don't think so

Looks like the financials couldn't extend their gain for a second day in a row. Both weekly unemployment numbers and durable good orders didn't offer investors a piece of mind that the market is at a bottom. The futures were down first thing in the morning and got stopped out of my Proshares Ultra S&p 500 (NYSE : SSO)@ 23.21. I decided that this financial bull run is dead and it's time to jump on the opposite side of the trade and jumped into the Direxion 3x Short Financials ( NYSE : FAZ) at 43.47. I figured that this time around, we might have some push back give that the republicans in congress decided not to vote for the bill. You can throw taking a bipartisan approach to fix the problem out the window. With this said I had to take advantage of jumping in to shorting the financials. The market slipped away in the last hour of trading, and oil finished at $41.66. Not to much action in oil, but tomorrow brings a big day with earnings and GDP! This report will give us a good indication on how fast the economy is contracting. This should be an interesting. It's going to be a volatile day, either up or down, but given the weakness in this market I believe that we will retest 820 on the S&P very soon. I am looking to take my profit on FAZ around $52 and change. Hopefully with all this turmoil, I can dump it tomorrow.